
Buying a home is one of the most important milestones someone might make in their adult life – and it can be one of the most expensive. Besides initial home prices, the homeowner has to contend with heating and cooling costs, regular maintenance, and sometimes unexpected repairs. Therefore, having a little wiggle room in the budget can be critical to owning a home and not having the home own you.
But is it possible to create that wiggle room where you live, or is the cost of the average home too close to the average income? We explore both, gleaning data from Zillow on the average price of a three-bedroom home as of March 2017, and the Bureau of Labor Statistics’ May 2018 occupational employment and wage estimates. Read on to see how your state fares compared to the rest.
(Louisiana, Maryland, and Vermont are missing from this list, as there was not enough home value data for this time frame to include them.)
The Average Home Price in Each State — Which Is Most Expensive?
48. West Virginia
- Cost of a three-bedroom home: $104,200
- Annual Mean Wage: $42,370
- The average three-bedroom home costs 2.46 times the annual mean wage
47. Oklahoma
- Cost of a three-bedroom home: $115,600
- Annual Mean Wage: $44,220
- The average three-bedroom home costs 2.61 times the annual mean wage
46. Alabama
- Cost of a three-bedroom home: $119,300
- Annual Mean Wage: $43,790
- The average three-bedroom home costs 2.72 times the annual mean wage
45. Mississippi
- Cost of a three-bedroom home: $119,900
- Annual Mean Wage: $39,420
- The average three-bedroom home costs 3.04 times the annual mean wage
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44. Ohio
- Cost of a three-bedroom home: $121,400
- Annual Mean Wage: $48,220
- The average three-bedroom home costs 2.52 times the annual mean wage
43. Indiana
- Cost of a three-bedroom home: $125,800
- Annual Mean Wage: $45,290
- The average three-bedroom home costs 2.78 times the annual mean wage
42. Kansas
- Cost of a three-bedroom home: $130,600
- Annual Mean Wage: $45,280
- The average three-bedroom home costs 2.88 times the annual mean wage
41. Kentucky
- Cost of a three-bedroom home: $132,500
- Annual Mean Wage: $43,210
- The average three-bedroom home costs 3.07 times the annual mean wage
40. Arkansas
- Cost of a three-bedroom home: $137,200
- Annual Mean Wage: $41,540
- The average three-bedroom home costs 3.30 times the annual mean wage
39. Arizona
- Cost of a three-bedroom home: $141,100
- Annual Mean Wage: $49,290
- The average three-bedroom home costs 2.86 times the annual mean wage
38. Georgia
- Cost of a three-bedroom home: $142,800
- Annual Mean Wage: $48,280
- The average three-bedroom home costs 2.96 times the annual mean wage
37. Missouri
- Cost of a three-bedroom home: $146,500
- Annual Mean Wage: $46,460
- The average three-bedroom home costs 3.15 times the annual mean wage
36. Iowa
- Cost of a three-bedroom home: $147,400
- Annual Mean Wage: $46,150
- The average three-bedroom home costs 3.19 times the annual mean wage
35. North Carolina
- Cost of a three-bedroom home: $150,700
- Annual Mean Wage: $47,200
- The average three-bedroom home costs 3.19 times the annual mean wage
34. South Carolina
- Cost of a three-bedroom home: $150,900
- Annual Mean Wage: $43,210
- The average three-bedroom home costs 3.49 times the annual mean wage
33. Nebraska
- Cost of a three-bedroom home: $151,300
- Annual Mean Wage: $46,710
- The average three-bedroom home costs 3.24 times the annual mean wage
32. New York
- Cost of a three-bedroom home: $152,800
- Annual Mean Wage: $61,870
- The average three-bedroom home costs 2.47 times the annual mean wage
31. Texas
- Cost of a three-bedroom home: $152,900
- Annual Mean Wage: $49,720
- The average three-bedroom home costs 3.08 times the annual mean wage
30. Pennsylvania
- Cost of a three-bedroom home: $154,500
- Annual Mean Wage: $50,030
- The average three-bedroom home costs 3.09 times the annual mean wage
29. Tennessee
- Cost of a three-bedroom home: $155,100
- Annual Mean Wage: $44,660
- The average three-bedroom home costs 3.47 times the annual mean wage
28. Michigan
- Cost of a three-bedroom home: $162,100
- Annual Mean Wage: $49,510
- The average three-bedroom home costs 3.27 times the annual mean wage
27. Illinois
- Cost of a three-bedroom home: $171,400
- Annual Mean Wage: $53,790
- The average three-bedroom home costs 3.19 times the annual mean wage
26. South Dakota
- Cost of a three-bedroom home: $171,500
- Annual Mean Wage: $41,800
- The average three-bedroom home costs 4.10 times the annual mean wage
25. Wisconsin
- Cost of a three-bedroom home: $172,500
- Annual Mean Wage: $47,350
- The average three-bedroom home costs 3.64 times the annual mean wage
24. New Mexico
- Cost of a three-bedroom home: $184,200
- Annual Mean Wage: $45,400
- The average three-bedroom home costs 4.06 times the annual mean wage
23. Idaho
- Cost of a three-bedroom home: $196,600
- Annual Mean Wage: $43,480
- The average three-bedroom home costs 4.52 times the annual mean wage
22. Florida
- Cost of a three-bedroom home: $201,000
- Annual Mean Wage: $46,010
- The average three-bedroom home costs 4.37 times the annual mean wage
21. Virginia
- Cost of a three-bedroom home: $209,900
- Annual Mean Wage: $55,310
- The average three-bedroom home costs 3.79 times the annual mean wage
20. Delaware
- Cost of a three-bedroom home: $210,100
- Annual Mean Wage: $53,320
- The average three-bedroom home costs 3.94 times the annual mean wage
19. Minnesota
- Cost of a three-bedroom home: $214,800
- Annual Mean Wage: $54,200
- The average three-bedroom home costs 3.96 times the annual mean wage
18. Montana
- Cost of a three-bedroom home: $219,100
- Annual Mean Wage: $43,860
- The average three-bedroom home costs 5.00 times the annual mean wage
17. Maine
- Cost of a three-bedroom home: $221,400
- Annual Mean Wage: $46,810
- The average three-bedroom home costs 4.73 times the annual mean wage
16. North Dakota
- Cost of a three-bedroom home: $222,600
- Annual Mean Wage: $49,620
- The average three-bedroom home costs 4.49 times the annual mean wage
15. Connecticut
- Cost of a three-bedroom home: $224,000
- Annual Mean Wage: $60,780
- The average three-bedroom home costs 3.69 times the annual mean wage
14. Wyoming
- Cost of a three-bedroom home: $225,200
- Annual Mean Wage: $48,630
- The average three-bedroom home costs 4.63 times the annual mean wage
13. Nevada
- Cost of a three-bedroom home: $226,100
- Annual Mean Wage: $46,170
- The average three-bedroom home costs 4.90 times the annual mean wage
12. Rhode Island
- Cost of a three-bedroom home: $249,200
- Annual Mean Wage: $54,810
- The average three-bedroom home costs 4.55 times the annual mean wage
11. New Hampshire
- Cost of a three-bedroom home: $253,500
- Annual Mean Wage: $52,350
- The average three-bedroom home costs 4.84 times the annual mean wage
10. Utah
- Cost of a three-bedroom home: $262,500
- Annual Mean Wage: $47,920
- The average three-bedroom home costs 5.48 times the annual mean wage
9. Oregon
- Cost of a three-bedroom home: $298,400
- Annual Mean Wage: $52,000
- The average three-bedroom home costs 5.74 times the annual mean wage
8. Alaska
- Cost of a three-bedroom home: $316,800
- Annual Mean Wage: $58,710
- The average three-bedroom home costs 5.40 times the annual mean wage
7. Washington
- Cost of a three-bedroom home: $324,400
- Annual Mean Wage: $59,410
- The average three-bedroom home costs 5.46 times the annual mean wage
6. New Jersey
- Cost of a three-bedroom home: $343,400
- Annual Mean Wage: $58,210
- The average three-bedroom home costs 5.90 times the annual mean wage
5. Massachusetts
- Cost of a three-bedroom home: $349,300
- Annual Mean Wage: $63,910
- The average three-bedroom home costs 5.47 times the annual mean wage
4. Colorado
- Cost of a three-bedroom home: $329,900
- Annual Mean Wage: $55,820
- The average three-bedroom home costs 5.91 times the annual mean wage
3. California
- Cost of a three-bedroom home: $467,500
- Annual Mean Wage: $59,150
- The average three-bedroom home costs 7.90 times the annual mean wage
2. District of Columbia
- Cost of a three-bedroom home: $581,800
- Annual Mean Wage: $87,920
- The average three-bedroom home costs 6.62 times the annual mean wage
1. Hawaii
- Cost of a three-bedroom home: $605,800
- Annual Mean Wage: $52,900
- The average three-bedroom home costs 11.45 times the annual mean wage
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